@Medify ... " I'm not questioning the PO3 directors' integrity....

@Medify ... " I'm not questioning the PO3 directors' integrity. I'm questioning their credibility."

I would question both. They do not have a choice of whether they put out an annual report and hold an AGM, it is compulsory for all public companies and within a certain timeframe. When they signed up as directors, it included all the responsibilities of a director. In the corporations act there can be time behind bars (up to 3 months) for those that don't carry out their statutory duties as a director, like holding an AGM within a set time, within 5 months of the end of the company's financial year.

They can apply to ASIC for an extension of time, but it is only given in rare circumstances, and it has to be applied for before the given time period is up..

https://download.asic.gov.au/media/5689748/rg44-published-7-july-1999-20200727.pdf

Shareholders should have zero respect for BODs that fail to have AGMs, as it's the one time shareholders can question directors about what's been going wrong..